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Russia chops interest rates to historic low


economy

Russia chops interest rates to historic low

Russia’s central bank has cut interest rates by another quarter of a percentage point, to a record low. The move, the 12th in less than a year, aims to stimulate lending and breathe life into the Russian economy that has found exiting the global recession tough going. Policy makers also hope the cut will contain the rouble, which remains strong against other currencies.

economy

Frugality still the order of the day for French consumers